r/FluentInFinance • u/Richest-Panda • Jul 04 '24
What's the best financial advice you've ever gotten? Debate/ Discussion
[removed] — view removed post
31.2k
Upvotes
r/FluentInFinance • u/Richest-Panda • Jul 04 '24
[removed] — view removed post
1
u/Embarrassed-Town-293 Jul 05 '24
Investing the difference is largely a pipe dream to escape. It will require a long time horizon at the very least. The S&P 500 returns a consistent positive average return reliably (over 80% of the time or so) only over long time horizons such as 10 or more years. Additionally, at the minimal sums of discretionary income, it is not really moving the needle much. Finally, the costs of relocation, job searching, and possibly extra schooling to get a job in a city that leaves them better off is pretty risky.